ABS

Credit ratings on the subsequent securitizations “remained relatively stable,” despite program transaction ratings being linked to the sponsoring airlines’ corporate ratings.

Larger system wide sales, three note classes and a cash trapping period, are among the four key changes to the pending transaction. It is also the largest Cajun Global series.

Over time, the MFIT securitizations have been getting larger in dollar volume, pricing at tighter spreads, and benefiting from more subordination.

While the trust is exposed to potential for degraded performance during the revolving period, Fitch pointed out that obligors tend to prioritize DPP payments.

Hertz Global Holdings Inc.’s $4.2 billion deal with Tesla Inc. is about more than just an order for 100,000 cars. It’s about vaulting electric vehicles into the mainstream.

The enormous issuance is backed by a single loan secured by first-priority mortgages on a pool of about 6,148 single-family rental homes, and 299 townhouses.

President Joe Biden and fellow Democrats are racing to reach agreement on a scaled-back version of his economic agenda, with a self-imposed deadline and his departure later this week for summits in Europe intensifying pressure on negotiations.

The deal is fortified with collateralization, subordination and reserve accounts throughout the capital structure to get most of the notes to top ratings.

Bond traders’ expectations for how fast inflation will rise over the coming five years have topped 3% for the first time on record.

The supply chain crunch appears to be reflected in this deal, which has the smallest collateral pool of lease contracts since 2019, at 35,020.

Market-implied expectations for U.S. inflation for the next half-decade surged to the highest in 15 years amid the latest increase in commodity prices.

The Oportun Issuance Trust 2021-C is one of the first deals on the platform to be backed by secured personal loans.

Money managers are hiking bets on the great inflation trade of 2021, as the biggest risk to price stability in more than a decade rocks corporate boardrooms and Wall Street trading floors.

Borrowers on the underlying loans in PMT Loan Trust 2021-INV1 have a weighted average (WA) original credit score of 778, plus a WA debt-to-income ratio of 34.6%.

Velocity has seven classes of securities divided into 25 subclasses, including 15 that are entitled to principal and interest, seven to only interest, and one to any remaining excess cash.

Government and corporate bonds globally have already lost 4.4% this year, the biggest decline for any similar period since 2005, according to a Bloomberg index.

The current deal uses a capital structure virtually identical to the 2021-NMQ2, with three classes of senior notes with ratings ‘AAA’ to ‘A’, that will pay on a pro rata basis.

The transaction is a $340.0 million interest-only, floating-rate mortgage loan with an initial three-year loan term and two successive one-year extension options.

Toyota Motor Corp. plans to invest $3.4 billion in the U.S. through 2030 to establish a new company and build its first U.S. battery plant, becoming the latest global automaker to accelerate the transition to electric vehicles through a battery push.

Blowout results from the big U.S. banks may spur even more bond issuance from the financial sector, with borrowing costs still attractive even as some market rates rise. The bond deal comes as risk premiums in corporate debt remain low.